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Sep 4, 2012
09/12
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i want to know if it was government, private sector or commercial. just don't have the break down, but overall, a weak ism number. close to expectation. look at detail, i don't see a lot of strength inside it and that's come off regional fed manufacturing surveys that pretty much, this overall national pretty much confirms. >> and we should mention, you're just back from jackson hole yourself. fed meeting coming up the 12th and 13th. how important is every data point leading up to that meeting? >> i'm not sure it's all that important in a sense that i think the fed sort of made up its mind that it needs to act and act in september. even if we end up on the high side of the growth forecast in the 2%, even 2.5% range, the gap as far as many people are concerned is so large that there's a pretty good conviction that the federal reserve has to do something and i would go back to those minutes, many members essentially feel we have to act. it's a pretty important statement. i'm not sure the market digested that. there was some attempt by people, the more
i want to know if it was government, private sector or commercial. just don't have the break down, but overall, a weak ism number. close to expectation. look at detail, i don't see a lot of strength inside it and that's come off regional fed manufacturing surveys that pretty much, this overall national pretty much confirms. >> and we should mention, you're just back from jackson hole yourself. fed meeting coming up the 12th and 13th. how important is every data point leading up to that...
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May 10, 2012
05/12
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they've made a lot of bets on governments. governments are cutting back. i think he used government and it wasn't an excuse this time. they're killing the competition, but it's not enough, because the customers are frozen. >> we saw it play out in juniper's second quarter guidance. they said things were terrible. very weak guidance and cisco had very good gross margins. that bears it up. they're gaining market share not by cutting prices, but simply getting market share because their products are in demand. at the same time i have to call out john chambers. he used to be a regular here after the earnings call. he does the 4:00 show right after the earnings are released, but he does an interview before the guidance is released. wouldn't you have loved john chaim better to come out and explain the guidance, because today wall street is saying, you know what? we don't know in we can believe cisco systems at this point, and he's not answering to the media. >> stock did tick up to 19 while he was on tv, and then -- >> and then swiftly tanks once the guidance wa
they've made a lot of bets on governments. governments are cutting back. i think he used government and it wasn't an excuse this time. they're killing the competition, but it's not enough, because the customers are frozen. >> we saw it play out in juniper's second quarter guidance. they said things were terrible. very weak guidance and cisco had very good gross margins. that bears it up. they're gaining market share not by cutting prices, but simply getting market share because their...
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Nov 23, 2012
11/12
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here's the 13 things the government can do. as i was holding my own, i was struck with a question from the university, and he said how many constitutions have you read? he had some. i never actually read them, so i bowed my head in submission, we moved on to dessert, but i went to google like anybody else and googled up about ten constitutions from around the world. it was a wonderful afternoon studying the plumbing of other democracies, surely enough, ours was unique, we don't follow it anymore, but the idea you constrain the powers of government and these were not supposed to be crossed by congress is something that's not been done elsewhere around the world. >>> now you get to the last question, and i'm much more serious on this. another article you've written i found fascinating, the entitlement society is now going to go full gear. obviously you weren't a big fan of the way the election turned out. i like being a strict constitutionalist, and i like article i, section 8. are we ever going to get back to those types of disc
here's the 13 things the government can do. as i was holding my own, i was struck with a question from the university, and he said how many constitutions have you read? he had some. i never actually read them, so i bowed my head in submission, we moved on to dessert, but i went to google like anybody else and googled up about ten constitutions from around the world. it was a wonderful afternoon studying the plumbing of other democracies, surely enough, ours was unique, we don't follow it...
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Mar 8, 2012
03/12
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government regulations change... oil peaks and plummets. and let's not even get started on the weather. the fact is: no two flights are ever the same. no matter how many times we've accomplished them in the past. the eighty-thousand employees at delta... must predict the unpredictable. anticipate the unexpected. and never let the rules... overrule common sense. this is how we tame the unwieldiness of air travel. pull it taut... and wrap it around the globe... until it's not just lines you see... it's the world. ♪ >>> some interesting times in the banking business. mary thompson at the citi financial's conference today and bank of america was speaking, a protester interrupted by yelling "bust up bank of america." we're told that mr. moynihan since continued the speech but we'll bring you more details as we learn more about that. bank of america presentation at the citi conference interrupted by a protester. >>> u.s. manufacturing running on all cylinders. experiencing an expansion unlike the last three decades. phil lebeau is live in washi
government regulations change... oil peaks and plummets. and let's not even get started on the weather. the fact is: no two flights are ever the same. no matter how many times we've accomplished them in the past. the eighty-thousand employees at delta... must predict the unpredictable. anticipate the unexpected. and never let the rules... overrule common sense. this is how we tame the unwieldiness of air travel. pull it taut... and wrap it around the globe... until it's not just lines you...
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Jul 18, 2012
07/12
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you couldn't have big government. if you love big government, love the fed. they finance the wars and the welfare and it doesn't work and ends up in a crisis. it's solvency crisis and can't be solved printing a lot of money so i think the very first step is transparency and for us to know. we have a right to know. you may be correct in your assumption or at least i'm sure you believe this. but maybe i should be talking to the congress. that we should stand up and say, yes, we demand to know. trillions and trillions of dollars being printed out of thin air and bailing out the friends. they stand ready to do it. the crisis is as far as i'm concerned my opinion is it's an early stages. it's far from over. we're in deep doldrums and we never changed policy. we never challenge anything. we just keep doing the same thing. congress keeps spending the money. welfare expends exponentially. wars never end and deficits don't matter. and when it comes to cutting spending, republicans and democrats get together and say, oh no, we can't really cut and if we do cut we cut p
you couldn't have big government. if you love big government, love the fed. they finance the wars and the welfare and it doesn't work and ends up in a crisis. it's solvency crisis and can't be solved printing a lot of money so i think the very first step is transparency and for us to know. we have a right to know. you may be correct in your assumption or at least i'm sure you believe this. but maybe i should be talking to the congress. that we should stand up and say, yes, we demand to know....
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Oct 10, 2012
10/12
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government in anti-trust when they decided he was one more civil servant, that was the top. government plays for keeps, and never mess with the person who works because they care, i suppose, for the money. >> unlimited check and a lot of lawyers. >> one certain wells fargo lawsuit? >> i thought that was a very -- wells fargo, i think the world of management there has stunk but michael corleone explained to us earlier when he saw that man blow himself up in cuba you cannot go against people who play for free and care, that was still one more great business lesson from the godfather, the greatest business movie of all-time, "godfather ii" the good to great, great to better. "you broke my heart." >> we'll talk more about wells and get more clarity on the quarter, david, coming up on friday. >> yes. >>> meantime after surging 40% this year, home depot getting a downgrade. we'll talk to the analyst making that call. >>> also ahead wall street and main street waiting for apple's mini version of the ipad. does it have something in common with pizza and sex? we'll meet the guest who
government in anti-trust when they decided he was one more civil servant, that was the top. government plays for keeps, and never mess with the person who works because they care, i suppose, for the money. >> unlimited check and a lot of lawyers. >> one certain wells fargo lawsuit? >> i thought that was a very -- wells fargo, i think the world of management there has stunk but michael corleone explained to us earlier when he saw that man blow himself up in cuba you cannot go...
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Dec 7, 2012
12/12
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government now can stop this kind of job growth. a fiscal cliff go over -- >> snatching victory from the jaws. >> a superstorm. nothing can stop the generation of jobs in this economy. >> there's a great article today in one of the papers about how apartment building, we have a shortage of apartments and shortage of housing and shortage of autos and shortage of office buildings developing, shortage of shopping centers, shortage of shopping malls. this is what begins a movement. you have to hire eventually. now you could say people are not looking for work, come on. look, jobs are here. they can -- it can be just easily reversed if you have no idea what is the future because of washington. >> given the data points that we've had in terms of claims numbers that did reflect an impact from sandy, they said 85,000 jobs or 86,000 jobs were sliced because of impact of sandy. average hours worked unchanged. doesn't that -- i don't know -- doesn't that bring into question a little bit the participation in the survey. how can it have no impac
government now can stop this kind of job growth. a fiscal cliff go over -- >> snatching victory from the jaws. >> a superstorm. nothing can stop the generation of jobs in this economy. >> there's a great article today in one of the papers about how apartment building, we have a shortage of apartments and shortage of housing and shortage of autos and shortage of office buildings developing, shortage of shopping centers, shortage of shopping malls. this is what begins a...
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Oct 11, 2012
10/12
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so it is always our friendly government. i don't control that and we are doing quite well in spite of that. we're pretty bullish going forward. regulation would be dodd-frank, qm and qrm. do i believe they'll be resolved some time in the first half of next year. >> but an environment in which the current regulations stand, just assume that it is status quo for the foreseeable future, will that prevent the housing recovery from being as robust as it had been during the peak times? >> well certainly stronger with the right regulation but what's interesting is the recovery is occurring in spite of that. that's a very strong test amount as to the strength of housing right now. >> you've cut a lot of costs as you've had to over these difficult years that the company's been owned by apollo. are you done with that? >> we pride ourselves on being very efficient from a cost perspective. in a recovery not only do you get the macro, the deleveraging, you get the benefit after substantially different company -- >> a lot of that was job
so it is always our friendly government. i don't control that and we are doing quite well in spite of that. we're pretty bullish going forward. regulation would be dodd-frank, qm and qrm. do i believe they'll be resolved some time in the first half of next year. >> but an environment in which the current regulations stand, just assume that it is status quo for the foreseeable future, will that prevent the housing recovery from being as robust as it had been during the peak times? >>...
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Mar 19, 2012
03/12
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government was talking about the biggest on this one. >> 15% dividend tax rate and we can debate that all day long. let's put this into perspective. this is not a lot of money, is it? >> no. >> they are sitting on $100 billion. >> every single day they are generating cash. >> generating cash every single day. they are still sitting on a huge amount of money which you know is going to annoy some people. a lot of it is overseas because of the repatriation tax. >> sysco started low. they are expected to do something. this is no reason to own the stock whatsoever. you want to own it for earnings. >> now that they've issued a dividend, now mutual funds that need to have dividend paying stocks can own it. >> but there were people with dividend funds that say, listen -- >> that's an excellent point. what about calpers? maybe it will make it more attractive, to melissa point, to a pension fund perspective. >> right. jpmorgan had a report out saying 40% of the index to the russell 1000 do not own apple. 40% do not own apple. 77% of shares are held by institutions. in terms of hedge funds holdi
government was talking about the biggest on this one. >> 15% dividend tax rate and we can debate that all day long. let's put this into perspective. this is not a lot of money, is it? >> no. >> they are sitting on $100 billion. >> every single day they are generating cash. >> generating cash every single day. they are still sitting on a huge amount of money which you know is going to annoy some people. a lot of it is overseas because of the repatriation tax....
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Feb 29, 2012
02/12
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that's why they lose trust in government. but, you know, this whole idea about prices and debasement of currency, if you loan me $100 and two years from now i gave you 90 back, you'd be pretty upset. but we hand that money back that's worth 10% or 15% or 20% less and the fact that nobody's able to do anything about it is upsetting. but if i don't give you your full $100 back, i'm steal 10g from you. so somebody's stealing wealth and it's very upsetting. in january at one of your press conferences, you said that you sort of poked a little bit of fun at people to downplay the 2% inflation rate. but if you say it's 2% and i say it's 9%, let's compromise and say it's 5%. you said that it doesn't hurt you unless you're one of those people who stick their money in the mattress. but where are you going to put it? are you going to put knit a cd and not make any money at all? this doesn't make any sense. it doesn't encourage savings. it just discourages people. but i do want to make a point about prices because prices go up. that, to
that's why they lose trust in government. but, you know, this whole idea about prices and debasement of currency, if you loan me $100 and two years from now i gave you 90 back, you'd be pretty upset. but we hand that money back that's worth 10% or 15% or 20% less and the fact that nobody's able to do anything about it is upsetting. but if i don't give you your full $100 back, i'm steal 10g from you. so somebody's stealing wealth and it's very upsetting. in january at one of your press...
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Dec 13, 2012
12/12
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it wasn't the tax dollars going to the government to help people. it was the charities like robin hood that was immediately there. you saw it with the sanitation. you saw it with the first responders. and let me tell you what i thought about last night. i am sick and tired -- sick and tired of people like nancy pelosi and harry reid sitting here attacking the wealthy for more taxes. bring it on, they'll say. bring it on. but these are the most charitable people in the world. i'm not going to name names. but if you watched that concert last night and you saw the people that were there and you could go to the robin hood foundation organization website, guess what, harry reid? those are the people that give their money away to help people. and i leave it at that. and that's what the fiscal cliff and taxes and charity have to do with the benefit last night. >> i suppose if harry reid or nancy pelosi were here, and they're not here, i wish some of them were, to respond to what you're saying. >> they don't give money to charity. they don't give money to c
it wasn't the tax dollars going to the government to help people. it was the charities like robin hood that was immediately there. you saw it with the sanitation. you saw it with the first responders. and let me tell you what i thought about last night. i am sick and tired -- sick and tired of people like nancy pelosi and harry reid sitting here attacking the wealthy for more taxes. bring it on, they'll say. bring it on. but these are the most charitable people in the world. i'm not going to...
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Mar 9, 2012
03/12
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eye 280
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who would invest in a 20-year government bond or 30-year government bond? there's no value in that. so, the price is way too high. just as the value of those greek bonds were way too high and that's why they're worthless now and nobody wants them and nobody wants to let them default. you have to liquidate the debt and you got to get rid of the debt if you ever want growth ywñ again. >> it'sals refresh i always ref hear from you, because you give a perspective that not many people bring to the table. and what you bring and what you demand of the other candidates, a lot of people are already writing you off, and i know that you have vowed to stay in the race adsg1i leak06hm for now. but what would be your greatest legacy? what is the issue that you would most like to look back on and say, do you know what, i had an impact on the republican nominee on this issue? >> well, i think the main thing is change the course of where we've been going for, you know, especially the last 40 years, maybe 100 years, and say that freedom is the issue, not big government. and that's what has to happen
who would invest in a 20-year government bond or 30-year government bond? there's no value in that. so, the price is way too high. just as the value of those greek bonds were way too high and that's why they're worthless now and nobody wants them and nobody wants to let them default. you have to liquidate the debt and you got to get rid of the debt if you ever want growth ywñ again. >> it'sals refresh i always ref hear from you, because you give a perspective that not many people bring...
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241
Aug 31, 2012
08/12
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according to a published report, booid man has considered quitting in recent weeks but the government has persuaded him to stay on the job. we have seen some walking away disgruntled over the ecb strategy but others would argue that opposition has kept the central bank from being able to stem the crisis. >> high profile political posturing some argue, was this a real -- was he really going to quit? is staying in the bank the reason he wants to help fight the proceed poetsd bond buying but it does add pressure on draghi. >> and to your point he has indicated he thinks he can be more effective in his role than not in the role and from a market point of view anyone that were to step up and take his spot wouldn't be any less hawkish. there wouldn't really be a change. >> comes on a morning with a lot of numbers, jobless rate in the eurozone matching the record high we saw in june. flat month on month and year-over-year up 2.2 points. >> this is what is so fascinating. you have a weak binch of data out of the eurozone over night. if you talk about the misery gauge, cpi rising, unemployment
according to a published report, booid man has considered quitting in recent weeks but the government has persuaded him to stay on the job. we have seen some walking away disgruntled over the ecb strategy but others would argue that opposition has kept the central bank from being able to stem the crisis. >> high profile political posturing some argue, was this a real -- was he really going to quit? is staying in the bank the reason he wants to help fight the proceed poetsd bond buying but...
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241
Mar 12, 2012
03/12
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i've never seen it as any governance fiascos. sometimes if it is transitional as part of a succession, it's fine. you have the governance issue covered. >> i think my colleagues have yet to uncover research that shows separation leads to better performance. it all depends on the people. iger has done an outstanding job. you need a strong director. it's a fine line between lead director and board chair. >> royal dutch show they had separation of roles and it hardly did any good. >> interesting that we got some big names who are not going to be with us in the next five years, jeff. and the pressure to make those names and those successor names clearer is only going to grow. >> there's a lot -- these are great names. great part of this generation is with wonderful names there's a humility about the names you mentioned. without a lot of bravado that proceeded a lot of them. >> no matter how happy you are with a ceo, it's your job -- i serve on these boards -- to have people lined up to come along to take the job from internal. just t
i've never seen it as any governance fiascos. sometimes if it is transitional as part of a succession, it's fine. you have the governance issue covered. >> i think my colleagues have yet to uncover research that shows separation leads to better performance. it all depends on the people. iger has done an outstanding job. you need a strong director. it's a fine line between lead director and board chair. >> royal dutch show they had separation of roles and it hardly did any good....
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Jul 3, 2012
07/12
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whether it's adp without the government or the bls with the government, and it's going to be a big driver. it will be the dynamic to trade through all month. do i have proof of that? one chart we had and still in a range really since the last unemployment number which was 69,000, put in the historic low yield of 145 in a 10 and it is about jobs and it's about jobs because it's about growth and it's about growth because all's we do is create debt. i don't see how much is going to change today but boy getting toward the end of the session we want to watch to see how the equity markets put in the final trades. melissa lee, back to you. >> rick santelli, thank you. let's check out energy and metals. sharon at the nymex and pretty big moves in wti and brent today. >> reporter: big moves. brent crude above $100 a barrel and wti near the highs of the session topping $87 a barrel. $3 move in both oil contracts and, of course, a lot of it has to do with tensions in iran. reports of missile tests. of course, reports of a draft bill to perhaps close shipping in the strait of hormuz. all of the facto
whether it's adp without the government or the bls with the government, and it's going to be a big driver. it will be the dynamic to trade through all month. do i have proof of that? one chart we had and still in a range really since the last unemployment number which was 69,000, put in the historic low yield of 145 in a 10 and it is about jobs and it's about jobs because it's about growth and it's about growth because all's we do is create debt. i don't see how much is going to change today...
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Dec 11, 2012
12/12
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the government is out of aig. the government's sales of the aig stake was one of ben's goals when he took the reins back in august of 2009. in a note to employees this morning, he wrote, that today warrants a celebration like no other in aig's history. the closing of this transaction will mark the full resolution of america's financial support of aig. with the profit to taxpayers of $22.7 billion to date. it marks one of the most extraordinary and what many believe the most unlikely turn-arounds in american business history. they sold their remaining 16% stake, over 234 million shares in aig at an average of $32.50 each. a corporate poster child at the financial crisis, aig resuscitated a government bailout by the treasury of $182 billion. the securities lending business and derivatives are nearly bankrupted, the property and casualty giant. as the firm's fourth ceo in two years, ben executed a plan to simplify the firm by key overseas businesses in order to rebay aig's debts. with one of his primary goals achieve
the government is out of aig. the government's sales of the aig stake was one of ben's goals when he took the reins back in august of 2009. in a note to employees this morning, he wrote, that today warrants a celebration like no other in aig's history. the closing of this transaction will mark the full resolution of america's financial support of aig. with the profit to taxpayers of $22.7 billion to date. it marks one of the most extraordinary and what many believe the most unlikely...
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Dec 3, 2012
12/12
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the concern was that the government wasn't going to allow for any price increases for verisign. that's why the stock pulled back. in the wake of the number, reassessing the situation, the company on track for good revenue growth and as a result we have seen a turn-around in today's session, up more than 6%. back to you. >> ocekay, thanks mary. >>> fitch is out with its latest ratings on u.s. states. we have a look at which ones face the biggest threat from the fiscal cliff. >>> later, if you own a car but never drive it, you might be able to make some money off it. ashton kutcher and marissa mayer are backing the start up. the ceo of get-around is coming up. gecko (clearing throat) thank you, mr. speaker, uh, members of congress. in celebration of over 75 years of our government employees insurance company, or geico...as most of you know members it.congress. ...i propose savings for everyone! i'm talking hundreds here... and furthermore.. newscaster:breaking news. the gecko is demanding free pudding. and political parties that are actual parties!? with cake! and presents! ah, th
the concern was that the government wasn't going to allow for any price increases for verisign. that's why the stock pulled back. in the wake of the number, reassessing the situation, the company on track for good revenue growth and as a result we have seen a turn-around in today's session, up more than 6%. back to you. >> ocekay, thanks mary. >>> fitch is out with its latest ratings on u.s. states. we have a look at which ones face the biggest threat from the fiscal cliff....
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389
Jan 27, 2012
01/12
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government hasn't expended the tax credit. we can't put that in until the government acts on it. stronger performance and higher tax jurisdictions and that's just the way it falls. >> that's the way it is. let me ask you about the euro zone. that's been topic a in davos. how tough is it there? >> you listen to the politicians who are optimists and believe they can make it work. you listen to economists who aren't so sure. they are more pessimistic. when you add it up, it feels like it's going sideways. we have sectors doing quite well like agriculture and other places that are hesitating. i happen to be an optimist. i think it will work out, but will take a while. it will not be a quick solution. >> that's what we were talking about this week because we were waiting on greece. if we see a greece default, does that impact your business? do you worry about what the happenings? >> anything that impacts confidence impacts our business. people vote that way. consumption goes that way. how people respond to buying automobiles and things like that are very much their confidence about th
government hasn't expended the tax credit. we can't put that in until the government acts on it. stronger performance and higher tax jurisdictions and that's just the way it falls. >> that's the way it is. let me ask you about the euro zone. that's been topic a in davos. how tough is it there? >> you listen to the politicians who are optimists and believe they can make it work. you listen to economists who aren't so sure. they are more pessimistic. when you add it up, it feels like...
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Oct 18, 2012
10/12
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turned the switch off. >> don't you think the government would be pleased by that? this is what they intended. >> oh, yeah, the government is thrilled, which means there's much less risk. these companies -- when lehman blew up, david, what was the ratio when lehman blew up versus what they are leverage ratio w 30, close to 40. >> fannie and freddie was 90. >> their balance sheet was leveraged at least 30 times their capital. >> those days are over. >> those days are far over. we're talking closer to 12, 13, 14, somewhere in there, which makes a lot more sense. it's p just dodd-frank. it is also basel iii. that is very important, even more important, in terms of simple capital requirements they're already getting in line for, adjusted for, and it makes profitability harder to come by. you can't get the same returns when you have to hold a lot more capital against these businesses. but that being said, it doesn't mean they can't get back to 12%, 13% roes. >> morgan stanley, like the other companies in the financials, their book value, their tangible book value is well
turned the switch off. >> don't you think the government would be pleased by that? this is what they intended. >> oh, yeah, the government is thrilled, which means there's much less risk. these companies -- when lehman blew up, david, what was the ratio when lehman blew up versus what they are leverage ratio w 30, close to 40. >> fannie and freddie was 90. >> their balance sheet was leveraged at least 30 times their capital. >> those days are over. >> those...
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Feb 13, 2012
02/12
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but he's having big problems with the government. his access to a lot of money has just been cut off. >>> and get ready for squawky the stock-picking dog. getting set in the green room right now. getting his nose powdered. take a look at this morning's early movers here on wall street. ♪ [ kareem ] i was fascinated by balsa wood airplanes since i was a kid. [ mike ] i always wondered how did an airplane get in the air. at ge aviation, we build jet engines. we lift people up off the ground to 35 thousand feet. these engines are built by hand with very precise assembly techniques. [ mike ] it's gonna fly people around the world. safely and better than it's ever done before. it would be a real treat to hear this monster fire up. [ jaronda ] i think a lot of people, when they look at a jet engine, they see a big hunk of metal. but when i look at it, i see seth, mark, tom, and people like that who work on engines every day. [ tom ] i would love to see this thing fly. [ kareem ] it's a dream, honestly. there it is. oh, wow. that's so coo
but he's having big problems with the government. his access to a lot of money has just been cut off. >>> and get ready for squawky the stock-picking dog. getting set in the green room right now. getting his nose powdered. take a look at this morning's early movers here on wall street. ♪ [ kareem ] i was fascinated by balsa wood airplanes since i was a kid. [ mike ] i always wondered how did an airplane get in the air. at ge aviation, we build jet engines. we lift people up off the...
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Feb 8, 2012
02/12
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what did the government do in july of 2010? they basically started issuing 100% guaranteed student loans. what has happened? this fall tuition at public education has increased over 8%. you see the way this spiral occurs. many of the press reports written say, oh, this consumer credit expansion of historic proportions in november and december is a good thing, things are getting healthier. going into debt is not a healthier endeavor. i would rather see a student have a part-time job, use his parents' savings and pay instead of going into hock. and we call ate good thing? there's something wrong when the strategy is to put people in debt and that's the solution. back to you. >> rick santelli, thanks for that. >>> let's talk netflix, flying high this year, the top-performing s&p stock so far this year. up about 85%. so the question is, is netflix too hot to handle it? jason helmstein has an outperform rating on netflix. he joins me. and andy hargrave with pacific crest securities. he is cautious on netflix saying the stock has beg
what did the government do in july of 2010? they basically started issuing 100% guaranteed student loans. what has happened? this fall tuition at public education has increased over 8%. you see the way this spiral occurs. many of the press reports written say, oh, this consumer credit expansion of historic proportions in november and december is a good thing, things are getting healthier. going into debt is not a healthier endeavor. i would rather see a student have a part-time job, use his...
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May 31, 2012
05/12
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biz investment up sharply, government another tick down 3.9%. inventories going lower. that may be a good sign, not so much inventory buildup. i'll be back at 10:30 with economists reaction to the data and how forecast for that super bowl of data, the payrolls may be changing. melissa. >> thank you very much. steve liesman, see you later. check in with rick santelli in chicago. rick. >> the nice thing about government data is there's a lot of different rabbit holes we can go down. my sources, friends, have been sending me one of the best. this is u.s. corporate profits. they were down over 4% in this gdp report. that's the worst showing since the credit crisis in '08. look at a 20-year chart. this is not good. it's one of these subindexes many people pay attention to. i think the graphics do it justice. that number wasn't very good. of course we see how the markets responded. small moves at hugely important historical spots with regard to fixed income. look at a 24-hour chart, ten-year note rates. yes, we did, eastern blip under 160. and the boone leading charge on hist
biz investment up sharply, government another tick down 3.9%. inventories going lower. that may be a good sign, not so much inventory buildup. i'll be back at 10:30 with economists reaction to the data and how forecast for that super bowl of data, the payrolls may be changing. melissa. >> thank you very much. steve liesman, see you later. check in with rick santelli in chicago. rick. >> the nice thing about government data is there's a lot of different rabbit holes we can go down....
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Sep 28, 2012
09/12
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government per diems aren't helping. business travel needs to lift hotel occupancy through the election and actually in response to it. that will also be critical for next year's corporate rates for the likes of marriott and intercontinental about to thrash out for the hotels that they service. incidentally those two stocks are up 30% and 40% so analysts say be careful. the reits that hold the hotels will likely trade more properties. we'll follow on offerings for investors. and the hope trade is under way so accelerating yields or could be share holder pain. casual dining this year's drought is about to become next year's commodity head wind. in the burger wars value appetizing will increasingly be pitched against expensive remodeling possibly hurting everybody they say in the industry. that's a q 4 t and l check. i'm simon hobbs. >> amazon is planning an online market place for wine sales, the second attempt at selling wine to consumers after problems with a partner prompted it to end the first attempt three years ago.
government per diems aren't helping. business travel needs to lift hotel occupancy through the election and actually in response to it. that will also be critical for next year's corporate rates for the likes of marriott and intercontinental about to thrash out for the hotels that they service. incidentally those two stocks are up 30% and 40% so analysts say be careful. the reits that hold the hotels will likely trade more properties. we'll follow on offerings for investors. and the hope trade...
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Aug 1, 2012
08/12
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overnight are preparing very big programs, and submitting plans to the government. so apparently something is under way. the railroads are also preparing to more stimulus programs as well. so i think that's very noteworthy. as far as the federal reserve, i tooled a lot of people yesterday most people believe the fed is going to begin -- or restart their mortgage bond buying program as well as push out the rate hike to 2015. now they're talking about earliest would be 2014 before they raised interest rates. as far as the ecb, there is no consensus, it's all over the place, but most seem to think that draghi will signal they'll begin buying spanish debt through the esf. that seems to be the minimal they can do. just on the earnings, we're nearing the end here, past two thirds of the earnings report. the one thing i want to know is housing has been a strange numbers. the home builders have reported excellent numbers, but the building material companies are not. they're a better leading indicator of housing than the home building companies. they are leading, because the
overnight are preparing very big programs, and submitting plans to the government. so apparently something is under way. the railroads are also preparing to more stimulus programs as well. so i think that's very noteworthy. as far as the federal reserve, i tooled a lot of people yesterday most people believe the fed is going to begin -- or restart their mortgage bond buying program as well as push out the rate hike to 2015. now they're talking about earliest would be 2014 before they raised...
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Jun 7, 2012
06/12
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reflecting ongoing pressures and state and local governments is continuing to decline. real federal government spending has declined on that since the third quarter of last year and the future course of federal fiscal policies remains quite uncertain as i will discuss shortly. with regard to inflation, large increases in energy crisis earlier this year caused the price index for personal consumption expenditures to rise at an annual rate of 3% over the first three months of the year. however, oil prices and retail gasoline prices have since retraced those earlier increases. in any case, it's going to unlike lookly result in increases in inflation, so long as household and business expectations and future prices remain stable. longer term inflations have been quite anchored and as derived from financial information. for example, the five-year forward measure of compensation derived from-year-olds on treasury securities suggest that inflation expectations among investors have changed little on oh net since last fall and lower than a year ago. meanwhile, the substantial re
reflecting ongoing pressures and state and local governments is continuing to decline. real federal government spending has declined on that since the third quarter of last year and the future course of federal fiscal policies remains quite uncertain as i will discuss shortly. with regard to inflation, large increases in energy crisis earlier this year caused the price index for personal consumption expenditures to rise at an annual rate of 3% over the first three months of the year. however,...
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Jun 14, 2012
06/12
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we spent $800 plus billion in a stimulus which is just government spending. it was supposed to keep unemployment under 8% and jump-start the economy. unemployment has been above 8% for 40 months and we're now told basically by the president and his supporters that it didn't jump-start the economy. we're going to have to have continued infusion of government spending to keep the economy moving along. we really need to change course and that's what governor romney is laying out. >> do you think there's any justification for the just fine comment when you look at the levels of cash that american businesses have right now, the way in which they're able to borrow money almost for free, the fact that the stock market is up 50% since the president took office. if you had to, could you build that argument? >> well, i think he's going to try to build the argument but i don't think it flies. business formation at a 30-year low, unemployment rising again. long-term unemployed at a record level 4.8 million people. those are lives that have been shattered. so i think you
we spent $800 plus billion in a stimulus which is just government spending. it was supposed to keep unemployment under 8% and jump-start the economy. unemployment has been above 8% for 40 months and we're now told basically by the president and his supporters that it didn't jump-start the economy. we're going to have to have continued infusion of government spending to keep the economy moving along. we really need to change course and that's what governor romney is laying out. >> do you...
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Oct 2, 2012
10/12
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whoever the government is that made it so hard to buy also made it easy to buy. >> the banks are doing it on their own. five, six years they were willing to lend to anyone. >> sorry. >> go ahead. >> that was pointed out by the citi note that underwriters are much tighter these days. so the risk is we have all the starts and the home builders are doing well but they will reach the point where the buyers can't get the credit they need and demand is gone. >> that's why when the toll brothers made it, they were in the process. it is one of those things, why aren't more people using the money and bernanke -- go buy a house, chairman. chairman bernanke, go buy an apartment for rental. what you'll see is unless you pay in cash or cut out the banks entirely and that hurts the rate of return, unless you're paying crash you'll tie yourself up for a really long time. evil gains are feeding into things. i do need to modulate here in the risk of the parts of corporations and the banks doing a 180. this is trauma from the financial corporation, which is okay. you want them to have some memory of it.
whoever the government is that made it so hard to buy also made it easy to buy. >> the banks are doing it on their own. five, six years they were willing to lend to anyone. >> sorry. >> go ahead. >> that was pointed out by the citi note that underwriters are much tighter these days. so the risk is we have all the starts and the home builders are doing well but they will reach the point where the buyers can't get the credit they need and demand is gone. >> that's...
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Mar 5, 2012
03/12
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government regulations change... oil peaks and plummets. and let's not even get started on the weather. the fact is: no two flights are ever the same. no matter how many times we've accomplished them in the past. the eighty-thousand employees at delta... must predict the unpredictable. anticipate the unexpected. and never let the rules... overrule common sense. this is how we tame the unwieldiness of air travel. pull it taut... and wrap it around the globe... until it's not just lines you see... it's the world. [ horn honks ] hey, it's sandra -- from accounting. peter. i can see that you're busy... but you were gonna help us crunch the numbers for accounts receivable today. i mean i know that this is important. well, both are important. let's be clear. they are but this is important too. [ man ] the receivables. [ male announcer ] michelin knows it's better for xerox to help manage their finance processing. so they can focus on keeping the world moving. with xerox, you're ready for real business. >>> energy prices are balancing the concerns
government regulations change... oil peaks and plummets. and let's not even get started on the weather. the fact is: no two flights are ever the same. no matter how many times we've accomplished them in the past. the eighty-thousand employees at delta... must predict the unpredictable. anticipate the unexpected. and never let the rules... overrule common sense. this is how we tame the unwieldiness of air travel. pull it taut... and wrap it around the globe... until it's not just lines you...
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Nov 21, 2012
11/12
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the budget for the european government. it's only a trillion dollars over seven years, but there's still a lot of arguments about it. at least that's how the rest of europe would see it. >> anyone who reads into the greece meeting is going to ask whether this is a technical disagreement or a broad disagreement that may not be resolved on monday. >> narrative is greece is going to get the money. the imf says we can't lend to a country unless we know that by 2020, it's going to be about 20%. there's about a 25 billion euro gap. you can change your assumptions about greece's growth rate. you can see to greece instead of 30 year, we'll give you 100. therest a lot of ways to get it done. >> if they don't get the money, the world doesn't fall apart, you know, and greece is still bad. not much changes. >> see you in a little bit. thanks, michelle. time for another capital markets op-ed. gary is at post nine with that. >> thanks, carl. viewers should hopefully know that i feel the pain for savers. the artificial move in interest ra
the budget for the european government. it's only a trillion dollars over seven years, but there's still a lot of arguments about it. at least that's how the rest of europe would see it. >> anyone who reads into the greece meeting is going to ask whether this is a technical disagreement or a broad disagreement that may not be resolved on monday. >> narrative is greece is going to get the money. the imf says we can't lend to a country unless we know that by 2020, it's going to be...
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Apr 2, 2012
04/12
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of making a mockery of sound corporate governance principle. one fight that's not going away any time soon. it's monday. if you didn't win the lottery, don't worry. jane wells has been hitting the streets talking to people not lucky enough to win the megamillions jackpot. hey, jane. >> here's my broken heart. $5 spent to win 656 million worth. nothing. so like tens of millions of others of people, hundreds of millions, it's just another monday morning. >> we had 22 people in there times $5. that's $110 and we didn't win five cents. >> here at the lenda alegendary boy, they were crying. locals told us how they would have spent their winnings. >> that money goes to everyone that i know. help are other people. >> sell the house, buy an rv and travel. >> i might buy a bigger house. >> buy gas for my car. maybe for the whole neighborhood. >> i would put it in the bank and go away for a month. the mail man wants to come over. i'll start my own mail route. >> i like my own mail route. that's tony who suggested that winners get out of town and take the
of making a mockery of sound corporate governance principle. one fight that's not going away any time soon. it's monday. if you didn't win the lottery, don't worry. jane wells has been hitting the streets talking to people not lucky enough to win the megamillions jackpot. hey, jane. >> here's my broken heart. $5 spent to win 656 million worth. nothing. so like tens of millions of others of people, hundreds of millions, it's just another monday morning. >> we had 22 people in there...
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May 3, 2012
05/12
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the government bond-buying program at his disposal is still there. but he basically left the impression, i'm not doing anything right now. >> i haven't bought bonds. that's different than the ltro. they haven't bought bonds in a significant way -- >> for a while. but it's still there and still at his disposal. the point s don't look to me to do anything near term. it's in the ball of the government's court. let's talk about april retail sales. this is a very tricky way to look at this. on the surface, it's disappointing. sales up 0.8%. the expectations were for a 1.5% gain. tafs disappointment. the first miss since going back to november. a number miss expectations, target, walgreens, buckle, a whole bunch of them did. but the comps last year were amazing. april 2011, same-store sales, 8.7% because easter was at the end of april in 2011. there was huge amounts of resistance here. you had to overcome that. everybody was freaked out about costco this morning. the comps in april of 2011 for costco were 12%. and they still beat -- they didn't beat. they
the government bond-buying program at his disposal is still there. but he basically left the impression, i'm not doing anything right now. >> i haven't bought bonds. that's different than the ltro. they haven't bought bonds in a significant way -- >> for a while. but it's still there and still at his disposal. the point s don't look to me to do anything near term. it's in the ball of the government's court. let's talk about april retail sales. this is a very tricky way to look at...
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Sep 27, 2012
09/12
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to backstop the government with potentially buying of its bonds. herein lies the problem. this is a country that has tried austerity. it's not like greece that's been dragging its feet. lehoy has enacted over 60 billion euros' worth of reforms, over 2 1/2 years to 2014. and the problem is, those reforms are making things worse. it's that whole contradiction is austerity driving growth out of the country, or actually is it creating conditions for investors to get more confidence? and then you get the protests from the people on the street. i'm actually standing on the exact point just outside where parliament is barricaded. you can see behind me just right at that point where over the last two nights, we've seen police charges, plastic bullets being fired as well, protesters getting violent because they're getting very frustrated about the really tough economic conditions which they don't see anything getting better. but i do want to leave this here on a very positive note. and there is one positive thing going on. and that is exports, and that is c
to backstop the government with potentially buying of its bonds. herein lies the problem. this is a country that has tried austerity. it's not like greece that's been dragging its feet. lehoy has enacted over 60 billion euros' worth of reforms, over 2 1/2 years to 2014. and the problem is, those reforms are making things worse. it's that whole contradiction is austerity driving growth out of the country, or actually is it creating conditions for investors to get more confidence? and then you...
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Oct 30, 2012
10/12
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flooding is federal government not necessarily you. can you give us the breakdown of people who should call you and people who say that's not my policy. people will be confused between property casual damage and flood damage. >> well, jim, my basic advice would be this is why our company and others in the property and casualty business exist. it's to protect what is most valuable to individuals and to business. so if you have damage of any sort, i would say call us. 800-243-5 800-243-5860. and let's sort through those issues together. right now my primary focus is being there for our customers. we will have to sort through issues like that. there's no question the days and weeks ahead. of but if you have any damage at all, call us. and we'll work with you. >> what's your policy? so i go down in my basement and i already see 24 hours later there's mold. i want very much to get my contractor to come in. my contractor says, listen, unless your insurance is paying it up front or right now, i'm not going to do that job. where do you come ou
flooding is federal government not necessarily you. can you give us the breakdown of people who should call you and people who say that's not my policy. people will be confused between property casual damage and flood damage. >> well, jim, my basic advice would be this is why our company and others in the property and casualty business exist. it's to protect what is most valuable to individuals and to business. so if you have damage of any sort, i would say call us. 800-243-5...
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Nov 1, 2012
11/12
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, balanced against what i regard seeing is uncertainty in the banking industry, where they lay off, government sees more- >> we have ceos sit over here, what you're going to do with the money, or how many people you're going to hire, it's not tens of thousands, but it's something. and they're high paying jobs. ford hired some people. it really is amazing when the u.s. is screwing up in europe. >> honda's spending 200 million to make some transmission plans in ohio, they're trying to make north america their main base for manufacturing. >> talk about japanese companies, though. >> panasonic. >> panasonic has a $12 million write off. >> it has to be sharp, sharp, sharp. and they have concerns about their ability to operate as a going concern. they're looking at investments from on high. the china protests are going to work out. >> this is as much as a stiff today, it's a 30-year low. >> these are huge companies, the vhs, beta max work. that's a good point actually. >> these are all the leaders. these were all the leaders that you think about. >> i remember when there was a period in 1998 and 199
, balanced against what i regard seeing is uncertainty in the banking industry, where they lay off, government sees more- >> we have ceos sit over here, what you're going to do with the money, or how many people you're going to hire, it's not tens of thousands, but it's something. and they're high paying jobs. ford hired some people. it really is amazing when the u.s. is screwing up in europe. >> honda's spending 200 million to make some transmission plans in ohio, they're trying to...
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Sep 12, 2012
09/12
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we're working with the government of libya to secure our diplomats. i've also directed my administration to increase our security at diplomatic posts around the world. and make no mistake, we will work with the libyan government to bring to justice the killers who attacked our people. since our founding, the united states has been a nation that respects all faiths. we reject all efforts to denigrate the religious beliefs of others. but there is absolutely no justification to this type of senseless violence. none. the world must stand together to unequivocally reject these brutal acts. already many libyans have joined us in doing so. this attack will not break the bonds between the united states and libya. libyan security personnel fought back against the attackers alongside american. libyans helped some of our dips find safety and carried ambassador's body to the hospital where we tragically learned he had died. it's especially tragic that chris stevens died in benghazi because it is a city he helped to save. at the height of the libyan revolution. ch
we're working with the government of libya to secure our diplomats. i've also directed my administration to increase our security at diplomatic posts around the world. and make no mistake, we will work with the libyan government to bring to justice the killers who attacked our people. since our founding, the united states has been a nation that respects all faiths. we reject all efforts to denigrate the religious beliefs of others. but there is absolutely no justification to this type of...
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Nov 27, 2012
11/12
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all guaranteed by the government. but why? i'm going to find another item that you might not know set to expire. it's checking accounts for business. we guarantee everything. i think it's time we stop. tune in top of the hour. time t. tune in top of the hour. ♪ [ female announcer ] today, it's not just about who lives in the white house, it's about who lives in the yellow house, the green, and the apartment house, too. today we not only honor the oval office, but we honor the cubicle, and the home office as well. because today it's about all of us. and no matter who you are, you're the commander-in-chief of your own life. ♪ you know it can be hard to lbreathe, and how that feels.e, of your own life. copd includes chronic bronchitis and emphysema. spiriva helps control my copd symptoms by keeping my airways open for 24 hours. plus, it reduces copd flare-ups. spiriva is the only once-daily inhaled copd maintenance treatment that does both. spiriva handihaler tiotropium bromide inhalation powder does not replace fast-acting i
all guaranteed by the government. but why? i'm going to find another item that you might not know set to expire. it's checking accounts for business. we guarantee everything. i think it's time we stop. tune in top of the hour. time t. tune in top of the hour. ♪ [ female announcer ] today, it's not just about who lives in the white house, it's about who lives in the yellow house, the green, and the apartment house, too. today we not only honor the oval office, but we honor the cubicle, and the...
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Sep 17, 2012
09/12
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if the government sold there, lose about $15 billion. "the journal" says they need to get to 53 a share to break even. but that treasury might consider selling somewhere in the 30s. >> that would still be quite a loss. i mean, considering it's a $15 billion loss on a $50 billion investment made in 2009. >> terrible, by any stretch of the imagination. however, let's just be clear, from a political standpoint, if you are on the democratic side of things, the liberal-leaning side of things, you're inclined to say, $15 billion to save the automakers, the auto parts makers, that seems a small price to pay if you're of that ilk. >> the terms of whether or not it reaches 30, take a look at ford, and the two are trading basically at the same pe. it's hard to make the case necessarily that it is the stigma and the stigma pa lo alo. >>> we're talking about the government like we would talk about eddie lampard. you had a good winner in aig. you lost some of those. >> the federal reserve. the largest hedge fund in the world. >> that's true, given it
if the government sold there, lose about $15 billion. "the journal" says they need to get to 53 a share to break even. but that treasury might consider selling somewhere in the 30s. >> that would still be quite a loss. i mean, considering it's a $15 billion loss on a $50 billion investment made in 2009. >> terrible, by any stretch of the imagination. however, let's just be clear, from a political standpoint, if you are on the democratic side of things, the liberal-leaning...
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Dec 18, 2012
12/12
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taxes enough to pay for the increase in what government is doing right now. >> in the infrastructure spending, it wasn't in the numbers. which we just learned. and these other little provisions that senator conrad was talking about, such as amt and doc fix, are not in the numbers. so i really don't think we have a document here that we can add up from the president. and so i think it's a little bit late to get to the deal. >> okay. >> good news to bad news, all at one time. >> merry christmas, everybody. >> caruso-cabrera wanted to marry the guy that wanted to go over. >> larry, thank you very much for being with us. >> thank you for having me. >> that does it for us today. join us tomorrow. right now it's time for "squawk on the street." >> good tuesday morning. i'm carl with melissa lee, david faber, live from the new york stock exchange. jim cramer is on assignment today. well, are we getting close to a fiscal cliff deal or not. futures are up and the dow gained 100 yesterday. but there is room for skepticism. europe's grappling with the same question helped by some decent uk infl
taxes enough to pay for the increase in what government is doing right now. >> in the infrastructure spending, it wasn't in the numbers. which we just learned. and these other little provisions that senator conrad was talking about, such as amt and doc fix, are not in the numbers. so i really don't think we have a document here that we can add up from the president. and so i think it's a little bit late to get to the deal. >> okay. >> good news to bad news, all at one time....
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Sep 10, 2012
09/12
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the other guys weren't scrubbed by the government. this was by the government. they owned it. i don't think the tangible book is right. >> speaking of shares hitting the markets, michael kors announcing that some shareholders will sell about 20 million shares in the company's stock, about 10% of the shares outstanding. this transpired friday afternoon after the close. we are seeing the reaction today. what a run. down 4.4% is a drop in the bucket when you consider the run it's had since it ipo'd here on the new york stock exchange. >> you interviewed michael kors. he's still involved in designing? >> he is. what's so unique about him is he worked on the floor of retail. he worked the floor. he knows what sales. he has a real handle on what the margins are on any product he designs. from the drawing board, you know what the margins are likely going to be. >> tommy hilfiger still intimately involved in the design. >> has a good sense for what will sell and what won't. >> 14% same-store sales. >> j. crew has had a very sharp increase in sales. >> titan machinery is an interesting
the other guys weren't scrubbed by the government. this was by the government. they owned it. i don't think the tangible book is right. >> speaking of shares hitting the markets, michael kors announcing that some shareholders will sell about 20 million shares in the company's stock, about 10% of the shares outstanding. this transpired friday afternoon after the close. we are seeing the reaction today. what a run. down 4.4% is a drop in the bucket when you consider the run it's had since...
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Feb 24, 2012
02/12
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it is not a government issue. the government is letting it happen. are they subsidizing it? oil companies have been subsidized for years in this country. >> that becomes part of the tax debate as we all know as well. >> when we're talking about this, obviously we have to take this in the context of how it impacts the american consumer and the economy. we have to remember that a year ago prices were about this high. gasoline prices were close to the levels we're seeing right now. a month after that or two months -- month and a half after that, the administration did tap the spr. >> look, let me tell you what you can do in the oil business right now if you're a commodity hedge fund. okay? not if you're an oil buyer. you can go rent a big tanker. a suez max. the most that can be held. for $10,000 to $15,000. you can go fill it up. you can write futures against it. you can hoard it. it's the trade that i would be putting on if i were at a hedge fund. i'd be just taking that -- i would throw a party on one of these ships. for 10 gs you could get 1,000 people on that deck. people
it is not a government issue. the government is letting it happen. are they subsidizing it? oil companies have been subsidized for years in this country. >> that becomes part of the tax debate as we all know as well. >> when we're talking about this, obviously we have to take this in the context of how it impacts the american consumer and the economy. we have to remember that a year ago prices were about this high. gasoline prices were close to the levels we're seeing right now. a...
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Oct 25, 2012
10/12
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the first is that they cost the government, uk government $14.3 billion to put on. the second, this is great, is that it actually ultimately appears to have lifted the uk out of recession. growth in the third quarter, we learned, was 1%. now, if the europeans reported their figures like the americans do, we would say that's 4%. it's an annualized rate of 4%. which is astounding growth. you're halfway to chinese growth there. the uk coming out of recession. actually, that quarter may mean they don't dip for 2012 overall. good news. >> the bigger story regarding europe is the way some big north american -- u.s. companies are trimming their exposure there. closing plants. >> particularly in automotive. but that's -- there was far too much capacity for all those automotive makers from the french to the germans to the u.s. u.s. has had a problem with gm and ford for some time. now biting the bullet. the europeans are doing the same. >> yeah. >> look at porsche asked to be propped up by the french government. >> santelli referenced it today. >>> another capital markets op
the first is that they cost the government, uk government $14.3 billion to put on. the second, this is great, is that it actually ultimately appears to have lifted the uk out of recession. growth in the third quarter, we learned, was 1%. now, if the europeans reported their figures like the americans do, we would say that's 4%. it's an annualized rate of 4%. which is astounding growth. you're halfway to chinese growth there. the uk coming out of recession. actually, that quarter may mean they...
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Feb 16, 2012
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except in the government sector. but big influence on the financial sector is what happens in europe. you know, without financing, this economy has proven like every other economy to be hurting. europe right now is really the question mark for the financial industry. >> there are a number of banks, of course, looking to shed assets. that is european banks, david. many of them are selling things over here. does that create opportunities for you or are you looking at all this from afar as well? >> no. certainly opportunities for third avenue and potentially for distressed opportunities down the road. but we're very conscious of the price that's paid for investments. just being available to purchase in the market doesn't necessarily make it attractive. the opportunity really comes when the pricing sets to a point where we think we can make a reasonable return on that investment. so we're watching carefully right now. i think jim's comment about the european effect will be more relevant to what's happening domestically.
except in the government sector. but big influence on the financial sector is what happens in europe. you know, without financing, this economy has proven like every other economy to be hurting. europe right now is really the question mark for the financial industry. >> there are a number of banks, of course, looking to shed assets. that is european banks, david. many of them are selling things over here. does that create opportunities for you or are you looking at all this from afar as...
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May 25, 2012
05/12
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they don't necessarily have as much government debt. it's that the banking sector may need so much help that the government would have to go into a lot of debt if the banks can't do it out in the private markets or raise the money on their own. that's the situation. that's where we are watching bankia. there used to be at least. they are having a tough time going into the private markets. we're going to talk about what is going on in europe because as simon pointed out, this has been an extremely pivotal week. we start a lot with the epicenter of the crisis with greece and explain what happens now, where do you go from here? how do you invest when things are so uncertain? what do you do when a country needs to create a new currency, carl? how do you do that? a lot of things that we'll explore at 1:00. >> greece is the fuse, spain is the bomb. i wonder, given the story in "the times" today about switching their currency for pounds. >> yeah. >> what level is your def-con? >> extremely high. two things happened this week. we have european
they don't necessarily have as much government debt. it's that the banking sector may need so much help that the government would have to go into a lot of debt if the banks can't do it out in the private markets or raise the money on their own. that's the situation. that's where we are watching bankia. there used to be at least. they are having a tough time going into the private markets. we're going to talk about what is going on in europe because as simon pointed out, this has been an...
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Apr 3, 2012
04/12
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government spending, i don't want to fall back on, sit just a romney elect piece? >> sure. do you think the threat of whatever may or may not happen to taxes at year end is an anchor around the market seals? >> stock market or economy? >> stock market. >> the stock market is up 60%. since the president took office, he claims no credit because i think the swing voters don't own stocks. >> you see hesitancy by corporate america as we head toward the election itself, wondering which way it will go. i hear that, that it will become more of a factor, that dreaded uncertainty that we hope to all get by but still hear all too often. >> oil and gas, if you really are believing that the next step could be getting rid of these big tax breaks for oil and gas, you might just say, this is an interesting i'm worried about. >> do they need tax breaks, oil and gas? >> it's controversial. maybe they wouldn't be wildcatting as much as they are, although the president is saying, listen, they're making so much money. it's obviously an issue. everyone pays money at the pump. they figure someone
government spending, i don't want to fall back on, sit just a romney elect piece? >> sure. do you think the threat of whatever may or may not happen to taxes at year end is an anchor around the market seals? >> stock market or economy? >> stock market. >> the stock market is up 60%. since the president took office, he claims no credit because i think the swing voters don't own stocks. >> you see hesitancy by corporate america as we head toward the election itself,...
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Jul 20, 2012
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tumbling 6% after government aid was requested. we're beginning to see pain at a more granular level. the yield on the spanish ten-year has been up to 7%. and the euro falling to two-year lows against the dollar back below 122. i was just talking to pisani and it was an ugly close. >> it is an ugly close. it puts pressure on us because the dollar goes up and we get pressure on commodity stocks, on commodities in general and on the industrial stocks. that's a two-year low. you're looking at a two-year chart of the euro right now. let's look at some of the european financials. michelle is going to be along to give you ramifications of the mer random of understanding. you can see it's an ugly day in european financials. bear in mind, the penny stocks, italian banks, credit agricole, and it doesn't matter. right across the board, 5, 6, 7% declines. the financials have been sort of on the downside for the last three days and not nearly the destruction that we're seeing over in europe but 1 to 2% and all of the financial names after repo
tumbling 6% after government aid was requested. we're beginning to see pain at a more granular level. the yield on the spanish ten-year has been up to 7%. and the euro falling to two-year lows against the dollar back below 122. i was just talking to pisani and it was an ugly close. >> it is an ugly close. it puts pressure on us because the dollar goes up and we get pressure on commodity stocks, on commodities in general and on the industrial stocks. that's a two-year low. you're looking...
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Jun 20, 2012
06/12
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tomorrow they swear in the rest of the government. after he swears on the bible, greece will finally have a government after six weeks. this el can hopefully get on with the process of trying to figure out their budget and negotiate with the european union to any leniency of dealing with the bailout package and making payments on time. they have lost tax revenue. due to all the uncertainty but not having a government and who was going to lead the country. so what you see here is an important step for this country to try to get back on its feet and move forward, and still try to stay in they you aro. the vote for antonin system amaras was seen as the people wanting to stick with touch measures and see the euro as. we'll see the finance team leave tomorrow for brussels to try to convince the european union for more leniency. >> michelle, thank you very much. again, one step in what could be a long road for greece as well as the entire your ozone. >>> coming up, burger king is public once again. we'll be talking exclusively with the cfo,
tomorrow they swear in the rest of the government. after he swears on the bible, greece will finally have a government after six weeks. this el can hopefully get on with the process of trying to figure out their budget and negotiate with the european union to any leniency of dealing with the bailout package and making payments on time. they have lost tax revenue. due to all the uncertainty but not having a government and who was going to lead the country. so what you see here is an important...
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Jun 1, 2012
06/12
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government resuming its compliants. there could be some weather pay back still in this number, but that doesn't explain the weakness elsewhere. here's the real unemployment rate ticking up 15.8. and that's all discouraged workers. here's some of the economists saying basically, all of the commentary he's saying is bad, awful and terrible. and groult may be no better than the 19 we have in this quarter. combined with the fact that inflation is below target, the june 19th, 20th meeting has increased. they call this number being around a hundred thousand or less. they're now saying we expect to see through it. perhaps look passed. we may record april personal spending. >> sorry, that's a mistake down at the bottom. melissa, bernanke kpmted a pullback from the stronger growth this month. i wonder if he's still seeing that saying you know what, we have a worrisome downward shift here. >> and, steve, we were having a conversation earlier about this number and the possibility of qe3 and the increased talk because of these numb
government resuming its compliants. there could be some weather pay back still in this number, but that doesn't explain the weakness elsewhere. here's the real unemployment rate ticking up 15.8. and that's all discouraged workers. here's some of the economists saying basically, all of the commentary he's saying is bad, awful and terrible. and groult may be no better than the 19 we have in this quarter. combined with the fact that inflation is below target, the june 19th, 20th meeting has...
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Feb 9, 2012
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, and the people who work in government. i get it, and i'm also a frustrated and disappointed with how things are done. three months later, how has mf changed the way you're doing business in the government? >> well, it's been finding some circuitous money trails, carl, as we have talked about before. and, you know, there are possible and some would even say probable illegal activities that have occurred, and in my view, it's really reprehensible, revolting, and, you know, we are tracking down these money trails. job one, get the customers their money back, as much as possible. and we're shooting for 100%. but we're doing everything we can. and number two, is those that had any involvement in this that was illegal, we needed to prosecute them. and on the criminal side, that's the department of justice of course. but i hope we go forward to the fullest extent of the law. and put guys who took people's money away, put them away. >> that's good stuff on the punishment side. but what about the prevention side? i mean, you can't
, and the people who work in government. i get it, and i'm also a frustrated and disappointed with how things are done. three months later, how has mf changed the way you're doing business in the government? >> well, it's been finding some circuitous money trails, carl, as we have talked about before. and, you know, there are possible and some would even say probable illegal activities that have occurred, and in my view, it's really reprehensible, revolting, and, you know, we are tracking...
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Mar 28, 2012
03/12
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you don't want the dutch government to fall at this stage. that's not kind of constructive. >> i think you could say that about a lot of governments. how about this report out of citi saying it's likely that spain would take part in some kind of program in 2012. not helpful. >> it's not helpful. there are so many questions out there about spain and the degree to which it's able to finance itself in this environment. it comes back to growth. this is the new focus of even those that are investing. are we getting growth across europe never mind austerity and the figures are very challenging. the public sector finance figures are tough at the moment. >> thank you, simon. keeping an eye on europe and also an eye on china. i don't know if you saw weak data out of china last night. continues to signal a slowdown in that country. capital markets editor gary kaminsky is back with that. not encouraging. >> the overall shanghai market. the reason we bring this up, carl, we pointed it out yesterday the correlation between european markets and u.s. equity
you don't want the dutch government to fall at this stage. that's not kind of constructive. >> i think you could say that about a lot of governments. how about this report out of citi saying it's likely that spain would take part in some kind of program in 2012. not helpful. >> it's not helpful. there are so many questions out there about spain and the degree to which it's able to finance itself in this environment. it comes back to growth. this is the new focus of even those that...
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May 16, 2012
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government. the u.s. treasury stake now stands at 61% in the insurer. that is down from 91% at the same time last year as the insurer made rapid progress in repaying a loan that saved it back in 2008. now ceo robert benmosce who is seeing them back to profitability repeatedly said allowing the government to exit aig at a profit is one of his primary goals. a goal he appears to be achieving. the government could have a profit of $15 billion from the $182 billion in loans and guarantees it gave to the firm during the financial crisis. the progress reflected in the firm's 35% gain so far this year. and by the attention it's receiving from some of the so-called smart money. recent filings show that hedge funds hhc capital and de shaw take larger stakes in the firm. still, there's a lot of work to be done at aig. this is the property and casualty unit. it's been hurt by a number of issues reserve and underwriting issues over the last couple years. for two years in the first quarter, it paid out more in claims than it is taking in. so improving the so-called
government. the u.s. treasury stake now stands at 61% in the insurer. that is down from 91% at the same time last year as the insurer made rapid progress in repaying a loan that saved it back in 2008. now ceo robert benmosce who is seeing them back to profitability repeatedly said allowing the government to exit aig at a profit is one of his primary goals. a goal he appears to be achieving. the government could have a profit of $15 billion from the $182 billion in loans and guarantees it gave...